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doco369
Returning Member

INSURANCE POLICY CASH SURRENDER

I'm cashing out a variable life insurance policy.  The cash surrender value is less than the premiums paid over last 23 years.  Is it taxable??

 

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‎October 31, 2024 8:04 AM
last updated ‎October 31, 2024 8:04 AM
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Bsch4477
Level 15
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

INSURANCE POLICY CASH SURRENDER

If the cash value is less than premiums paid it is not taxed. 

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‎October 31, 2024 8:26 AM
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Bsch4477
Level 15
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

INSURANCE POLICY CASH SURRENDER

If the cash value is less than premiums paid it is not taxed. 

‎October 31, 2024 8:26 AM
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